Eddied01
Short

EURUSD-Long term-short

FX_IDC:EURUSD   Euro / U.S. Dollar
A few key notes:
1- most overbought in 10 years.
2- COT contracts out at all time high with commercials in most bearish position in 20 years
3 - Long term support trend line was broken and is being retested at the moment
4- 100 month MA at 1.255
5- 0.618 retracement level = 1.2598
6- The US 10 yield at 4 year high but for the past 2 months there has been a massive divergence between this move and the dollars move
7- Further the US economy should get a boost by end Q1 and then followed up the rest of 2018 as a result of the tax reform leading to a more hawkish FED in 2018

In the short-term it could potentially head for 1.265 before it turns.

Taking all of the above as well as the potential wave counts into consideration it does seem likely that the pair will start heading down in the next few weeks.
The first wave down should be an impulsive and aggressive move down

I see best price resistance arround 1.270 - 1.280
Reply
below a view of the hourly chart with two views of the next move
Reply
Yeah, in the long period is hard to say if it will follow the long term support line, or if it will continue the bearish tunnel. To me, a flat trend would be the ideal to stabilize the market and to finish this unpredictable future. I don't like the unpredictability, and like e, there are many arround here.
I Will follow you to see your ideas, i like forex and i need some expert predictions. Once i have any question about forex, can i sent you a message?
Reply
@OCI, Anytime!
Reply
OCI Eddied01
@Eddied01, thank you, by the way, i'm short on AUD/USD, opened at .80248 yesterday and confirmed (.79922 now), i'm seeing the daily period and i think it wil probablyl fall a little more, do you agree or have any other idea about it?
Thank you.
Reply
@OCI, I believe that the trend should be downwards for AUDUSD. Might retrace first and then head back down
Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out